Audit 40457

FY End
2022-06-30
Total Expended
$19.01M
Findings
14
Programs
7
Organization: Mount Saint Mary College (NY)
Year: 2022 Accepted: 2022-10-20
Auditor: Crowe

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
45099 2022-001 Significant Deficiency - N
45100 2022-001 Significant Deficiency - N
45101 2022-001 Significant Deficiency - N
45102 2022-001 Significant Deficiency - N
45103 2022-001 Significant Deficiency - N
45104 2022-001 Significant Deficiency - N
45105 2022-001 Significant Deficiency - N
621541 2022-001 Significant Deficiency - N
621542 2022-001 Significant Deficiency - N
621543 2022-001 Significant Deficiency - N
621544 2022-001 Significant Deficiency - N
621545 2022-001 Significant Deficiency - N
621546 2022-001 Significant Deficiency - N
621547 2022-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $15.89M Yes 1
84.063 Federal Pell Grant Program $2.36M Yes 1
84.U38 Federal Perkins Loan Program $357,243 Yes 1
93.364 Nursing Student Loans $153,725 Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $112,963 Yes 1
84.033 Federal Work-Study Program $97,200 Yes 1
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $36,777 Yes 1

Contacts

Name Title Type
JACLBNXLSF44 Arthur Glass III Auditee
8455693211 Kelly Frank Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the activity of Mount Saint Mary College (the "College") for the year ended June 30, 2022 and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The College has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. NOTE 2 - LOANS OUTSTANDINGAs of June 30, 2022, the College had $318,225 in loans receivable from participating students related to the Federal Perkins Loan Program. There were no disbursements for the year ended June 30, 2022.NOTE 3 - NURSING STUDENT LOAN PROGRAM (NSLP) In 2022, the College did not award any new loans under the Nursing Student Loan Program. The outstanding balance of loans under the Nursing Student Loan Program was $138,061 at June 30, 2022.
Title: RELATED PATRY TRANSACTIONS Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the activity of Mount Saint Mary College (the "College") for the year ended June 30, 2022 and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The College has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The College periodically engages in transactions with related parties which are not considered material to the financial statements.

Finding Details

For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.
For one out of 40 samples tested, the student?s status was not accurately reflected to the NSLDS. The College utilizes a third party service company to administer reporting to the NSLDS. Although the College reported the accurate status to the third party, NSLDS was inaccurately updated. The student was in a 5-year program where both the undergraduate and graduate degree are issued concurrently once all requirements are met. The student completed all credit bearing courses in the Fall of 2021 and was required to take an exam during his spring semester to graduate. The most recent NSLDS reporting indicated a withdrawal status effective December 2021 instead of half-time per the College?s records. Further, the student?s school records indicated graduated effective May 2022.